When you are in the market to sell your home, you may begin various home projects that will not only attract potential buyers and make them fall in love with your property, but will increase your home’s market value. Some projects such as a kitchen remodel can provide up to 92% of your return. However, there are some projects that while they may improve your home’s curb appeal, they won’t increase your home’s value. Here are three projects that may not be worth your time and money.
1. Professional Landscaping
While exquisite landscaping can certainly add curb appeal to your home, it won’t necessarily increase your home’s value. Some homebuyers simply don’t like certain landscaping choices and they don’t like the maintenance that comes with it. If you need to improve the landscaping in your home, make sure to keep things simple and focus on the basics: green grass, well-manicured flower beds, and a yard free of clutter.
2. Installing Luxury Appliances
You may install a high-end oven or stovetop but if the buyer is not a professional chef, they may not care or even have any idea of the high price tag attached to the item. If you are upgrading many appliances in your kitchen or throughout your home, choose high-quality items that won’t break the bank. If not, you may end up paying more than each item is worth.
3. A Hot Tub
You may think a hot tub is a great selling point for many individuals, but that’s not always true. Some potential buyers may dread the maintenance and repairs that come with these products. Other buyers may have small children and a hot tub is just one more thing to worry about in their home. If you are considering selling your home soon, you may want to rethink such a large purchase and use your money elsewhere, such as creating a more useful outdoor space or upgrading a kitchen or bathroom area.
Also, when updating your home prior to placing it on the market, don’t think that adding new carpet, fixing electrical work, or installing a new furnace will improve your home’s value. These are certainly selling points, but these are things that many buyers expect to be taken care of and maintained.
If you are ready to sell your home or have questions about ways to improve your home’s market value, talk to Markham real estate agent Martin MacFarlane. He can answer your questions and help you receive an offer you are happy with.